Veris Residential, Inc. (VRE) To Go Ex-Dividend on December 31st

Veris Residential, Inc. (NYSE:VRE) declared a quarterly dividend on Wednesday, November 13th,Wall Street Journal reports. Stockholders of record on Tuesday, December 31st will be given a dividend of 0.08 per share on Friday, January 10th. This represents a $0.32 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Veris Residential’s previous quarterly dividend of $0.07.

Veris Residential has decreased its dividend by an average of 44.5% per year over the last three years. Veris Residential has a payout ratio of -114.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Veris Residential to earn $0.59 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 54.2%.

Veris Residential Stock Down 1.3 %

VRE stock opened at $16.46 on Friday. Veris Residential has a one year low of $13.84 and a one year high of $18.85. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.73 and a current ratio of 0.73. The firm’s fifty day moving average is $17.47 and its 200 day moving average is $16.76. The firm has a market cap of $1.53 billion, a PE ratio of -96.82, a P/E/G ratio of 2.91 and a beta of 1.27.

Wall Street Analyst Weigh In

VRE has been the subject of several recent analyst reports. JPMorgan Chase & Co. upgraded Veris Residential from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $14.00 to $17.00 in a research note on Tuesday, December 17th. Bank of America upgraded Veris Residential from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $20.00 to $23.00 in a research report on Tuesday, November 12th.

Veris Residential Company Profile

Veris Residential, Inc is a forward-thinking, environmentally and socially conscious real estate investment trust (REIT) that primarily owns, operates, acquires and develops holistically-inspired, Class A multifamily properties that meet the sustainability-conscious lifestyle needs of today’s residents while seeking to positively impact the communities it serves and the planet at large.